Blog

Product Development

Power Tools: Current Market Trends and Future Projections

U.S. power tool sales are set to decline by 1.3% in 2024 but are expected to rebound with 2.8% growth from 2026 to 2028. Brands must focus on innovation, sustainability, and safety to meet the evolving preferences of professional and DIY consumers.

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Customer Usage and Attitude
Product Development
Building & Construction

Home Organization Products Demand Expected to Be Strong in 2025-2028

As homes become smaller and more multifunctional, demand for home organization products is expected to rise through 2028. Higher housing costs and evolving lifestyles are driving consumers to seek versatile storage solutions to maximize their spaces.

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Customer Usage and Attitude
Home Improvement
Product Development

7 Reasons Why the Major Home Appliance Market is Forecasted to Grow between 2025 and 2028

Like a majority of product categories, large home appliances have struggled in terms of market growth recently in part due to availability constraints, limited consumer need, and pull forward purchases over the last 2-3 years combined with long life cycles. Looking ahead into 2025 and beyond, the market forecast is more positive...

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Market Sizing
Product Development
Customer Usage and Attitude

Landscaping, Lawn and Garden Market Size and 2024-2027 Outlook

As our team anticipated, slowing housing starts and slowed home sales resulted in a decreased demand for OPE products in 2023, especially among new buyers, but market size forecasts show a brighter outlook. Here's what we're seeing:

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Lawn & Ranch
Product Development
Market Sizing

How To Calculate Price Elasticity of Demand

When crafting a new product or enhancing an existing product, there's a major question that must be answered: how to price the product. Price elasticity of demand is one tool that can be researched to estimate the revenue that can potentially be achieved by changing the unit price of an existing product, or when introducing a new product to the market.

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Product Development

Top Takeaways from the 2024 Building Products Customer Workshop

In October, dozens of building material manufacturers and suppliers gathered for two days of collaboration at The Building Products Customer Workshop. Attendees partook in deep discussion and debate on how to define customers, how customer behaviors are impacting supplier and product decisions, and how to improve the interaction of sales and marketing. Ultimately, manufacturers and suppliers know they can’t just keep doing what they’ve done for the last couple of years. Consider the implications for your company regarding these hot takes:

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Product Development

Better Understand Your Building Products Customers

Download informative reports to keep a pulse on how your target DIYer, Contractor, Builder, and Architectural customers' purchase behaviors are changing.

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